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Since this is an Expy board, you're going to get biased answers!
But here's my attempt to be unbiased....
My SIL and her son both have Explorers. SIL's has a real ghost of an electrical problem -- $2000 later and still no solution! Nephew's has a mysterious oil leak -- well, he says it's mysterious, but then he doesn't take care of his things.
Compared to my '99 EB Expy, their XLT Explorers look cheap and flimsy.
That's all I can say. I definitely like my Expy better. Last time we drove around with the extended family, we had me, Husband, Niece and her husband and two kids, plus two tall teenagers, and still had room to carry swimming accouterments. And we didn't feel crowded in, either.
So, it really depends on your requirments. If it's just your parents, and a few groceries, you might want the smaller Explorer. But if it's your parents, several grandkids and a towed camper, go for the 5.4 liter Expy!
Unless they MUST have the smallest exterior yet retain the ability to carry a couple folks in comfort the Expy can't be beat.
The Expedition doesn't get quite as good fuel economy but what is 1-3 mpg worth over the course of 15,000 miles/yr ? maybe $150 dollars in fuel savings? for that I say get the best SUV on the planet.